Customers – Lifeblood of an Enterprise!
All of us are customers in one way or the other in our everyday life. How satisfied are we with the service, products that are sold to us? Do we even know how vital are we to an enterprise for their business growth, sales, profits etc.? How do the enterprises look at the customer data when it comes to business? Do they have enough information about all of their customers? Read through the blog to know more about how the Customer data is maintained in a central Hub.
Customers are vital to both analytical and transactional operations of an enterprise. Every enterprise will have ‘n’ number of customers doing business with them and it keeps growing every year. The moment a customer enters into a business with an organization, the customer information has to be stored as it is vital to the business and it’s the breadwinner for any enterprise.
How are these enterprises ensuring that they have all the information about their customers? If so, is the information that is stored in their databases - sufficient, relevant, consolidated, and duplicate free, rich in quality? The answer can be ‘Yes’,’ No’ or ‘May be’. This is because the customer data in today’s enterprises are maintained in disparate applications across geographies. Also, ‘n’ number of customers in business is not even closer to maintaining high quality customer information in the system.
So far, using the conventional approaches, the enterprises have been able to solve this problem to a smaller extent like integrating transactional systems, making use of analytical applications that will help the business in decision-making process etc., but these approaches has to led to poor customer service, less sales opportunities in various markets and also the customer data thus stored is not clean, duplicate free, relevant and consistent across the enterprises. More importantly, it does not provide a single view of customer data to the external world.
How are these enterprises ensuring that they have all the information about their customers? If so, is the information that is stored in their databases - sufficient, relevant, consolidated, and duplicate free, rich in quality? The answer can be ‘Yes’,’ No’ or ‘May be’. This is because the customer data in today’s enterprises are maintained in disparate applications across geographies. Also, ‘n’ number of customers in business is not even closer to maintaining high quality customer information in the system.
So far, using the conventional approaches, the enterprises have been able to solve this problem to a smaller extent like integrating transactional systems, making use of analytical applications that will help the business in decision-making process etc., but these approaches has to led to poor customer service, less sales opportunities in various markets and also the customer data thus stored is not clean, duplicate free, relevant and consistent across the enterprises. More importantly, it does not provide a single view of customer data to the external world.
The solution to this could be the Oracle’s –Customer Data Hub which would provide the enterprises with a centralized, single, global view of customers that is consistent, duplicate free, and is of high quality. With the central hub in place, the enterprises can continuously synchronize with the external systems. This way the customer data is more accurate, up-to-date, and highly reliable which helps the business to provide better customer service, generate more sales which in turn leads to more revenue, better analytical decisions for better operations.
Watch out this space for more in the future!
